An Interview with Jay Stein

The CEO of Dream Hotel Group speaks his truth on boutique hotel investment.

BLLA: How did you come to enter the hospitality industry?

JS: “My love affair with hospitality began the minute I decided not to go to law school after graduating from college. Instead, after a short stint managing a free-standing restaurant in Queens, I shifted focus and decided to pursue my degree in hospitality management, and I am so glad I did! After completing that degree, I accepted my first management position at the Vista International Hotel in the World Trade Center in NYC and immediately fell in love with the industry and began my lifetime career in hospitality.”

BLLA: What does boutique mean to you?

JS: “A highly specialized, highly sophisticated, and highly stylized hospitality experience.”

BLLA: How would you define the word “luxury” in the hospitality industry?

JS: “To be a true luxury property, you need an impeccably designed product that uses high-end materials to construct the hotel inside and out, coupled with personalized service, high-end dining and bespoke amenities within an environment that excites you.”

BLLA: What are the top three trends that you see in the boutique hotel investment space?

JS: ”Creating hotels in non-traditional environments, maximizing outdoor spaces wherever and whenever possible, and opening in new and emerging cities that are not typically thought of as boutique hotel destinations.”

BLLA: What are you hoping to get out of your participation in the Boutique Hotel Investment Conference?

JS: “I am most looking forward to meeting with industry friends, hearing about new trends from other hospitality professionals and boutique brand leaders, and discussing new potential projects with developers.”

BLLA: Where are you seeing the most boutique hotel development these days?

JS: “Almost everywhere! Primary cities continue to see significant growth in the boutique hotel sector, but we are seeing a major spike in development opportunities in secondary and tertiary markets as well – and now more than ever. Every new hotel coming to market considers themselves as boutique.”

BLLA: Why do you believe boutique hotels are a good investment?

JS: “Boutique sells! These are the types of hotels that most people want to stay in, and they are willing to pay a premium for them. In many of the markets we enter, there is a lack of true lifestyle products despite the demand, and that really allows us to differentiate ourselves and set us apart from the competition. If there is a void in the marketplace, we want to fill it.”

This interview was originally published on BLLAEvents.com